As spring officially turns to summer this month, it reminds us of those changes that are inevitable as well as those changes over which we have control. In this spirit, the Truepoint Women’s Wealth Counsel held the 7th annual Ladies Luncheon on May 10, featuring speaker Elle Zimmerman on the topic of “How to Confidently Manage Change.” The key takeaway was that change is a constant presence in our lives, and both types of transitions – those that happen to us and those that we initiate – present unique opportunities for growth.
Reflecting on change at Truepoint
Some of the highlights of Elle’s presentation certainly resonated with the Truepoint team. For one, we consider ourselves an organization that embraces change. Whether keeping up with technological advances, looking for ways to better serve our clients or welcoming new team members, we pride ourselves in adapting and growing in thoughtful ways. As a team, these are the challenges and changes upon which we thrive, knowing that it supports one of our most important assets: our culture.
One recent transition within Truepoint was the passing of the leadership torch for the Women’s Wealth Counsel from Liz Niehaus to me. We are especially grateful to Liz for leading the group since its 2011 inception and look forward to her continued involvement. The response from our clients and the community to our WWC initiative has been tremendous, further fueling our mission of creating opportunities for women to become more empowered in all aspects of their financial lives. At Truepoint, we view our female clients as, well, clients – not as a “niche” market as our male-dominated industry often does. We have learned that women place high value on trust, and as fiduciaries, we see trust as critical to how we operate and communicate. The fact that our team, including our shareholder group, is nearly half female speaks to a greater commitment to encourage professional and personal growth for women in our own community.
How we help clients deal with change
Change is inevitable for our clients, too. And the life impact can be dramatic. Whether it’s a new client who finds Truepoint because of a change in their lives or an existing client that is suddenly thrown one of life’s curve balls, our role is to be a buoy for our clients when the waters are a bit rough.
For example, when the death of her husband left a long-time client reeling, the last thing she wanted to do was worry about her finances. And fortunately, she didn’t have to. With the guidance of their Truepoint advisor, the couple had recently updated their estate documents and had a financial and investment plan that addressed an unexpected event such as the loss of the primary breadwinner in the family. When she was ready, we helped her navigate the process of settling her husband’s estate while providing tax and investment guidance to both her and their children.
Learning to deal with life’s changes
Change is inescapable – the key is how you respond to it. Elle provided some helpful hints to effectively managing that change. She encourages us to create rituals to signify moving from one thing to the next, to be gentle with our bodies and minds through self-care, and to practice visualizing your life once you have successfully navigated that transition.
“All change begins with a time of transition – which is usually the hardest part. Sometimes, we ourselves are the cause of these transitions. We choose to take a new job, move to a larger house, leave the workforce and retire. But, sometimes, the change happens to us. A loved one passes away, a child moves out, or a job is lost, and we now have to learn to live with what’s happened…the key is to view it as an opportunity not a crisis and embrace the process.”
Knowing that change (planned or unplanned) is on the horizon for you, think about the processes and people you can put in your life right now. Do you have trusted relationships you can rely on when you need it most? Do you have access to key information you would need in the event of an emergency? Do you have ways in which you can practice self-care in those moments where life may seem overwhelming? As the saying goes, “an ounce of prevention is worth a pound of cure.” The Truepoint team is here to provide that ounce and more.